Monday, November 30, 2009

GE, Vivendi reportedly reach agreement on NBC

The Associated Press is reporting that General Electric has struck a tentative deal to buy the Vivendi's stake in NBC Universal for about $5.8 million. The agreement, if finalized, would pave the way for GE to sell a 51 percent stake in the TV and movie company to Comcast Corp., the largest U.S. cable TV provider.

GE owns 80% of NBC Universal. The Comcast transaction would create one of the world's largest media companies, but part of the deal has always required that Vivendi sell its 20% stake to GE. Vivendi is a French media conglomerate.

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